The physical world is being rebuilt.
We invest in what it's built on.
A seed fund investing at inception in the foundational layer of American industrial capacity — the materials, components, and physics-based platforms beneath defense, energy, space, and manufacturing.
The next two decades belong to the physical economy. The most enduring companies build hardware — and capital is only beginning to correct toward them.
Industrial capacity is strategic capacity. Energy, compute, and defense are decided by who can make things — and where.
Value concentrates upstream. The enabling layer — materials, components, physics — is where the asymmetry lives.
Conviction is earned at inception — the moment of cheapest ownership and the truest test of technical judgment.
Run by an engineer who still operates a hardware company. We don't claim expertise across six markets — we do the technical work to earn conviction, deal by deal.
Building something hard?
If you're at inception on a defense, energy, space, semiconductor, manufacturing, or materials company, we'd like to hear what you're building.
For founders